16 August 2024 - Following the approval by the Thailand Board of Investment (BOI) of Hyundai Mobility Manufacturing (Thailand) Co., Ltd.’s project to invest 1 billion baht (USD 28 million) to start local assembly of battery electric vehicles (BEVs) and batteries by 2026, Mr. Narit Therdsteerasukdi, Secretary General of the BOI, handed the project’s Investment Promotion Certificate to Mr. Jae Gyou Chung, the company’s CEO, and Mr. Jun Ho Lee, CFO. Also in attendance was Mr. Wallop Chalermvongsavej, MD of Hyundai Mobility (Thailand) Co., Ltd., the sales and marketing arm in Thailand. Hyundai’s project reaffirms investor’s confidence in Thailand's potential as a global EV production hub. It will also involve collaboration with Thai companies in BEV and battery assembly, support the development of local suppliers, and enhance the EV infrastructure, including charging stations.